Dycom Industries, Inc. (NYSE:DY) Shares Sold by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC cut its position in shares of Dycom Industries, Inc. (NYSE:DY) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,329 shares of the construction company’s stock after selling 106 shares during the quarter. Dycom Industries comprises about 4.2% of Gryphon Financial Partners LLC’s holdings, making the stock its 3rd largest position. Gryphon Financial Partners LLC owned 0.58% of Dycom Industries worth $29,299,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Dycom Industries during the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new position in Dycom Industries during the third quarter worth $28,000. SOA Wealth Advisors LLC. bought a new position in Dycom Industries during the third quarter worth $39,000. Westside Investment Management Inc. bought a new position in Dycom Industries during the third quarter worth $41,000. Finally, Anchor Investment Management LLC boosted its stake in Dycom Industries by 37.6% during the third quarter. Anchor Investment Management LLC now owns 267 shares of the construction company’s stock worth $53,000 after acquiring an additional 73 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

Dycom Industries Stock Performance

NYSE DY opened at $163.89 on Monday. Dycom Industries, Inc. has a 52-week low of $123.90 and a 52-week high of $207.20. The company has a 50-day simple moving average of $181.49 and a 200 day simple moving average of $183.93. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.93 and a current ratio of 3.12. The company has a market capitalization of $4.78 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

Dycom Industries declared that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the construction company to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Jennifer M. Fritzsche sold 430 shares of Dycom Industries stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $173.11, for a total value of $74,437.30. Following the completion of the transaction, the director now owns 8,873 shares in the company, valued at $1,536,005.03. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter T. Pruitt, Jr. sold 2,900 shares of Dycom Industries stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $175.08, for a total transaction of $507,732.00. Following the completion of the transaction, the director now owns 14,533 shares of the company’s stock, valued at $2,544,437.64. The trade was a 16.64 % decrease in their position. The disclosure for this sale can be found here. 4.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DY shares. KeyCorp dropped their price objective on shares of Dycom Industries from $229.00 to $201.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Dycom Industries from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Dycom Industries in a research note on Tuesday, November 19th. Finally, Raymond James raised their price objective on shares of Dycom Industries from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Dycom Industries currently has a consensus rating of “Buy” and a consensus price target of $205.38.

Dycom Industries Company Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.